by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Harvard University, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Harvard, 8% of freshmen borrow to help pay for their first year, with a typical loan of $12,445 each, across private and federal loan sources.
The average federal loan is $5,250, amounting to 95.5% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Among all degree-seeking undergrads at Harvard, 5% finance part of their studies with federal loans, for a typical $7,926 per year. This works out to 51.0% higher than the first-year federal average of $5,250.
Carrying that yearly figure forward comes to roughly $15,852 after two years and $31,704 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 5% |
| Average federal loan per year | $7,926 |
| Undergraduates with a federal loan | 404 |
| Total federal loans (one year) | $3,202,134 |
The middle borrower at Harvard owes $12,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,500 |
| Students who completed (graduates) | $14,000 |
| Students who withdrew | $11,118 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Harvard.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,700 |
| 25th percentile | $4,379 |
| 75th percentile | $16,135 |
| 90th percentile (highest-debt students) | $29,889 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Harvard.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Harvard.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 2481 | $25,000 |
| Completed (graduates) | 793 | $28,000 |
| Did not complete | 1688 | $24,000 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $332.95/mo.
Federal data lets us separate Stafford borrowers from the rest at Harvard.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 2327 | $24,296 |
| No Stafford loan | 154 | $39,839 |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 522 | $30,000 |
| No Stafford loan this year | 1959 | $24,000 |
The indicators below describe what the typical debt costs to pay back at Harvard.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Harvard appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.4% |
| Borrowers in the cohort | 2612 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $13,250 |
| High income | $11,535 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,736 |
| Continuing-generation students | $11,535 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,067 |
| Independent students | $17,977 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Harvard.
Subsidized vs. Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Important to Remember
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.